At the end of June 2017, the total cash in FUMC bank accounts (covering operating and mortgage funds) was $259,467.91, 6.01% below total cash held in June 2016.

Spring Stewardship Update & Church Council Budget Decision

Greg discussed his report to Church Council (which was previously distributed) and summarized the Council’s budget decision. He noted that the Council agreed to cut spending another $4,000 (beyond cuts previously announced) and the Fijian community announced a new $6,000 contribution. These events combined to lower the projected total budget deficit by $10,000.

Review of Financial Performance Over Past Years

Greg observed that FUMC’s Total Income has been in a state of gradual decline during the time he has served on the Finance Committee (January 2013 – June 2017). He noted the more significant decline in FUMC’s cash balances during this same period and discussed possible reasons why this has happened. Unfortunately, it is difficult to give specific reasons (for the decline in cash balances) to Church Council because FUMC does not produce a Cash Flow Statement.

Adopting a Cash Flow Statement

The committee discussed the advantages and disadvantages of producing a cash flow statement. The primary advantage is better information to describe where FUMC’s cash comes from and where FUMC’s cash goes. The primary disadvantage is the staff time and effort required to produce the statement. Greg presented a model cash flow statement to the committee. In conversations with Greg, Janin Comiskey expressed optimism that she could use Power Church software to develop a cash flow statement that resembled the model. Jack Breglio moved and Peg Ferrel seconded that FUMC should continue to pursue the feasibility of preparing a cash flow statement. Ideally, the statement would be produced on a regular basis, such as annually, quarterly, or even monthly. The motion was passed unanimously.

Asset Task Force Update

Greg reported that only modest progress was made by the task force since the June Finance Committee meeting. He asked the Church Council at the last meeting if it still wanted the task force to continue with its work, given the encouraging Spring Stewardship campaign results. Multiple members of Church Council expressed the wish that the task force continue with its work. No members of Church Council (attending the meeting) suggested that the task force should cease its work.